Design for Big Akwa's land-based aquaculture facility in Ånge Municipality, Sweden.
Image: Big Akwa
Swedish food tech firm Big Akwa has raised SEK 7.85m (approx. €720,000 / $840,000) through a directed share issue, according to the company. The company says the equity injection, completed last week, will help finance the ongoing design and engineering phase of Project Alby, its proposed land-based rainbow trout farming operation.
Big Akwa said the capital raise reflects strong backing from existing shareholders and will allow it to progress the project.
“It is truly fantastic to see such strong support from our shareholders,” said CEO Elena Petukhovskaya. “Their continued trust enables us to take the next important steps toward building a sustainable, resilient and efficient food production system for Sweden and the EU. We are deeply grateful for their belief in our mission.”
The project is intended to bring together "industrial symbiosis" and circular food production, using waste streams from fish farming and nearby industries to increase resource efficiency. Big Akwa's first facility is planned at Alby Industrial Park in Ånge Municipality, central Sweden, and is still in the pre-construction phase.
The company previously announced the land-based trout farm had secured 25-year operational and water permits to produce up to 6,000 tonnes of fish each year. Big Akwa says it expects production to begin in 2028, reaching full capacity by 2029.
The facility will be co-located with a hydrogen plant, part of Big Akwa’s concept of linking food production with other industrial activities.
"The focus is on locally produced, fairly priced, and sustainable fish - an innovative concept that benefits both people and the planet," the company said.
